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Subsequent Event
12 Months Ended
Apr. 30, 2020
Subsequent Events [Abstract]  
Subsequent Event

(17) Subsequent Event

 

As a result of the COVID-19 pandemic, the U.S. Government passed the CARES Act. On May 3, 2020, the Company signed a PPP loan with Santander as the lender for $890,347 in support through the Small Business Association (“SBA”) under the PPP Loan. The PPP Loan will be unsecured and evidenced by a note in favor of Santander as the lender (the “Note”) and governed by a Loan Agreement with Santander (the “Loan Agreement”). The Company received the proceeds on May 5, 2020. The SBA allows loan forgiveness for costs incurred and paid for a) payroll costs, b) interest on any real or personal property mortgage incurred prior to February 15, 2020, c) rent on any lease in force prior to February 15, 2020, and d) utility payments for which service began before February 15, 2020.